Vulture capitalists are sucking value from a dying industry.
Wyoming is facing a potential crisis. Coal mines have shut down, hundreds of people are out of work, unemployment offices are overwhelmed, and there appears to be worse to come.
Chile announced Tuesday it would close eight coal-fired power stations over the next five years as part of a plan to switch entirely to renewable energy by 2040.
The closures, announced by Chile's conservative President Sebastian Pinera, account for 20 percent of the country's energy capacity, or 23,000 megawatts.Read more
The New Zealand Government has established a Just Transitions Unit to help share and coordinate the work of transitioning New Zealand to a low emissions economy. Read more
The coal companies told us they're going to be there forever - but we all know the end of coal is coming. We have to get in front of it!
As domestic and international demand for coal drops, Wyoming coal companies are cutting employee benefits or laying off workers. In 2015, Wyoming experienced the highest U.S. unemployment spike. In the following year, approximately 500 coal miners were laid off in one day. With many coal communities facing financial collapse, Wyoming industries, governments, and workers are searching at home and abroad for models for diversifying their local economy.
In coal-dependent communities in Shanxi and Inner Mongolia, where almost half of all coal mines were “suspended or partially suspended,” the energy transition has been particularly difficult for older workers. Facing layoffs, these workers seek the same solution as miners in Wyoming: a just transition. Read more
The Just Transition Task Force for Canadian Coal Power Workers and Communities looks at how to make it a just transition.
See what they’ve learnt: http://ow.ly/6d4B30o0Tn2
It could be suggested that a grassroots plan for a post-coal future was heard in the corridors of State Government. The announcement of a $40 million 'Hi-Tech' precinct in Morwell to diversify the region's economy into new industries is similar to a plan devised by advocacy group, Voices of the Valley.
In Hazard, Kentucky, a diversified economy is emerging.
Coal-fired power plants are closing early and Colorado lawmakers want to ease towns’ tough transition
The Colorado Energy Impact Assistance Act - a bill working its way through legislature under the title of House Bill 1037 - would provide funds and at the same time lower the financial impact of power-plant closures on utility customers. Read more